A House committee has approved a watered-down payday lending bill. A-P-R’s Stan Ingold has more…
This bill will give borrowers up to 45 days to repay the loan and reduce the fees they pay. The House Financial Services Committee voted for the bill after shelving a tougher Senate-passed bill giving six months to repay the loan. Committee Chairman Ken Johnson says he doesn’t think people need six months to repay average payday loans of $300. Representative Danny Garrett says the House bill is still "significant reform." Stephen Stetson, a reform advocate, says the action was frustrating. A Pew Charitable Trusts study found that the number of Colorado payday stores shrank by half with six-month repayment. Stetson says he was concerned all reform efforts could perish with three days left in the session
The House budget committee has approved a plan to divide up money from the BP Oil Spill settlement. The proposal would use the cash to pay off state debts and pay for road projects in coastal counties. The plan would also help close most of a gap in next year's Medicaid budget. The idea is to use the settlement money to back a bond sale. Much of the nearly half billion dollars would pay back money borrowed during past budget shortfalls. The deal would also free up fifty five million for Medicaid.
The city of Birmingham may open its wallet to help save the UAB Blazers football program. The City Council voted to approve two and a half million dollars in funding for the reinstatement of the UAB program. The city will give the program five yearly installments of five hundred thousand dollars each. Johnathan Austin is the President of the Birmingham City Council. He says they are playing a vital role in resurrecting the program.
“Our responsibility is to support the university to the best that I can and currently in my role as a city council member and also as a president is to make sure that we as a city make the commitments that we make and then make good on those commitments.”
The council is expected to vote on the donations at their economic development and budget and finance meeting next week.
Former members of the Alabama Crimson Tide and the Auburn Tigers are crossing their fingers for tonight’s NFL draft. Speculation appears to be trending in favor of Alabama center Ryan Kelly and linebacker Reggie Ragland going in the first round. By contrast, Heisman winner Derrick Henry’s prospects may have soured, with a third round pick possible. Auburn’s Shon Coleman is predicted to go in the second round with Cassanova McKinzy and Jonathan Jones in the fourth.
